Baldwin v. . Moffett
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme' Court, in the fourth judicial department, entered upon an order made December 30, 1881, which affirmed a judgment in favor of defendants, entered upon a decision of the court on trial at Special Term.
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Appeal from judgment of the General Term of the Supreme' Court, in the fourth judicial department, entered upon an order made December 30, 1881, which affirmed a judgment in favor of defendants, entered upon a decision of the court on trial at Special Term. (Reported below, 26 Hun, 209.) This action was brought to obtain a judgment reviving a mortgage upon certain premises formerly owned by defendant Wooster Sherman, subrogating plaintiff to the rights of the mortgagee, and for a foreclosure of said mortgage. The referee found in substance the following facts: In September, 1875, said…
1Opinion of the CourtRapallo, J.
We find it impossible to separate the agreement that the sum remaining due on the Appleby mortgage should be paid out of the $6,375 advanced by the plaintiff, from the usurious agreement under which the advance was made. The stipulation as to the application of the money was one of the conditions upon which the money was advanced, and was part of the same agreement by which a discount of five per cent in addition to legal interest was reserved to the plaintiff. The check of the plaintiff was given to Mr. Camp in payment for the second mortgage bonds of Sherman; at five per cent discount, and…
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